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Smart Electricity Meters: Introduction

  • A smart electricity meter is an electronic device that measures the accurate amount of electricity consumed by a residence, business, or electrically-powered device
  • A smart electricity meter provides highly accurate information about consumed energy, which reduces the chance of error in the existing billing system to minimal
  • Smart electricity meter includes first-generation smart meters or AMR (Automated Meter Reading) meters and second-generation meters or AMI (Advanced Metering Infrastructure) meters
  • Smart electricity meters use different technologies to deliver information wirelessly via low-energy radio frequency waves. Customers have access to the smart meter’s power usage data so that they can control energy usage, either by altering usage habits or pointing issues related to the power quality.

Rise in Demand of Global Smart Electricity Meters Market

  • Continuous development of communication network infrastructure promotes the manufacturing of advanced level of smart meters. Availability of network infrastructure such as 5G, 4G, and radio frequency boosts the development of smart meters.
  • Smart electricity meters are extensively utilized in the residential sector, as this meter measures the energy consumed by consumers. Investments in smart grids and a rise in the adoption of renewable sources of power generation to existing grids in developed economies are expected to propel the smart electricity meters market.
  • Increasing urbanization and deployment of smart home projects fuels the demand for automatic control of electricity, light, and energy in order to avoid wastage. Hence, the increasing adoption of smart home devices and technologies across homes, globally, is expected to boost the smart electricity meters market.

Asia Pacific to Lead Global Smart Electricity Meters Market

  • Asia Pacific is leading the global smart electricity meters market during the forecast period. Rise in investments in smart grid technologies and smart cities, increase in the number of data centers, and rapid expansion of IT hubs and commercial institutions propel the smart electricity meter market in Asia Pacific.
  • Replacement of first-generation meters and the shift to advanced metering infrastructure (with higher capabilities and improved technology) are expected to fuel the smart electricity meters market in Asia Pacific
  • China accounts for a prominent share of the global smart electricity meters market due to large-scale rollout plans, due to highest installed generation and distribution capacity in Asia Pacific, resulting in an increased demand for smart electricity meters

Key Players Operating in Global Smart Electricity Meters Market

  • ABB, Ltd.
  • Itron, Inc.
  • Siemens AG
  • Aclara Technologies LLc
  • Microchip Technology Inc.
  • Elster Group GmbH
  • OSAKI Electric Co., Ltd.

Global Smart Electricity Meters Market: Research Scope

Global Smart Electricity Meters Market, by Phase

  • Single-phase
  • Three –phase

Global Smart Electricity Meters Market, by End-user

  • Residential
  • Industrial
  • Commercial

Global Smart Electricity Meters Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Smart Electricity Meters Market